Stock Market News: Canopy Growth Goes Higher; Expedia Takes Off
Friday morning brought a pause to Wall Street, resting after its most recent surge to record-high levels. Investors are still debating whether the coronavirus outbreak will have a dramatic impact on the global economy, with rising death tolls but also signs of hope that an effective treatment might come in the not-too-distant future. As of 10:30 a.m. EST, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 9 points to 29,414. The S&P 500 (SNPINDEX: ^GSPC) was up 2 points to 3,376, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) had gained ground, picking up 12 points to 9,724.
The cannabis industry has been under pressure for a long time, but industry leader Canopy Growth (NYSE: CGC) saw some encouraging signs that lit a fire under its stock price. Meanwhile, online travel specialist Expedia Group (NASDAQ: EXPE) came out with good news of its own that could get investors less concerned about the headwinds facing the travel industry right now.
Shares of Canopy Growth jumped 18% after the Canadian cannabis company reported its fiscal third-quarter results. After a long period of pessimism about marijuana stocks, the news from Canopy restored some confidence in the industry's future.
Source Fool.com